New Energy Systems Group Signs $3 Million Distribution Agreement with European Distributor; Agreement for Solar Mobile Chargers
January 26 2010 - 8:30AM
PR Newswire (US)
SHENZHEN, China and NEW YORK, Jan. 26 /PRNewswire-Asia-FirstCall/
-- New Energy Systems Group (OTC:NEWN) (BULLETIN BOARD: NEWN) , a
vertically integrated original design manufacturer and distributor
of lithium ion batteries and backup power systems, today announced
that it has entered into a distribution agreement with A-Solar, a
European developer and distributor of solar powered products for
charging mobile electronics. Under the initial one year agreement,
A-Solar will be the exclusive selling agent for New Energy's solar
mobile chargers for a series of iPhone and iPod models in the
United Kingdom, Germany, Belgium, Netherlands, and Luxembourg.
Sales under this agreement are expected exceed $3 million during
2010. Mr. Fushun Li, Chief Executive Officer, commented, "Our debut
into the U.K., Germany, Scandinavia and key European countries
marks an important step in our evolution as a global company and we
are excited to have teamed up with A-Solar. A-Solar's multi-channel
sales include online as well as retail distribution, and we view
this alliance as a significant milestone for our access to markets
beyond China. While we still have significant growth opportunities
within China, we are also aggressively pursuing business outside of
China, which is something we have not historically done. We believe
A- Solar's decision to partner with us further validates the
strength and breadth of our product line. This is the first
agreement we have signed with A-Solar and we look forward to
expanding our relationship with them in the future." About New
Energy Systems Group New Energy Systems Group is a vertically
integrated original design manufacturer and distributor of lithium
ion batteries and backup power systems for mobile phones, laptops,
digital cameras, MP3s and a variety of other portable electronics.
The company's end-user consumer products are sold under the Anytone
brand in China, and the company has begun expanding its
international sales efforts. The fast pace of new mobile device
introductions in China combined with a growing middle class make it
fertile ground for New Energy's end-user consumer products, as well
as its high powered, light weight lithium ion batteries. In
addition to historically strong organic growth, New Energy is
expected to benefit from economies of scale, broader distribution,
greater production capacity and higher profit margins in 2010.
Additional information about the company is available at:
http://www.newenergysystemsgroup.com/ . Forward Looking Statements
Except for the historical information, the matters discussed in
this news release may contain forward-looking statements,
including, but not limited to, factors relating to future results.
These forward-looking statements may involve a number of risks and
uncertainties. Actual results may differ materially based on a
number of factors, including, but not limited to, uncertainties in
product demand, risks related to doing business in China, the
impact of competitive products and pricing, changing economic
conditions around the world, release and sales of new products and
other risk factors detailed in the Company's most recent annual
report and other filings with the Securities and Exchange
Commission. For more information, please contact: Crescendo
Communications, LLC David Waldman or Klea Theoharis Tel:
+1-212-671-1020 Email: DATASOURCE: New Energy Systems Group
CONTACT: Crescendo Communications, LLC, David Waldman or Klea
Theoharis, +1-212-671-1020, or Web site:
http://www.newenergysystemsgroup.com/
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